Bangladesh: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Bangladesh

In 2021, the Bangladeshi machine-tool for working metal market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed a remarkable increase. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports from Bangladesh

Machine-tool for working metal exports from Bangladesh was estimated at X units in 2021, approximately mirroring the previous year. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 365% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports fell to $X in 2021. Overall, exports saw a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 517% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units), Myanmar (X units) and Malaysia (X units) were the main destinations of machine-tool for working metal exports from Bangladesh, with a combined 90% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +34.1%), while the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), India ($X) and Malaysia ($X) constituted the largest markets for machine-tool for working metal exported from Bangladesh worldwide, with a combined 84% share of total exports.

Malaysia, with a CAGR of -0.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, reducing by -8% against the previous year. In general, the export price showed a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 55%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.7%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal

Imports into Bangladesh

In 2021, after two years of decline, there was significant growth in supplies from abroad of machine tools for working metal, when their volume increased by 38% to X units. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.8% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 45%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports soared to $X in 2021. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 84%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for working metal to Bangladesh, with a 48% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Italy (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.3% per year) and Italy (+31.4% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to Bangladesh, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.4% share of total imports. It was followed by Turkey, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+35.7% per year) and Turkey (+59.2% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, with an increase of 5.5% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working metal import price increased by +15.5% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 34%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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